"Vornado Realty Trust is held by Bronfman & Rothschild"
Sauce please?????
You are making huge assumptions here. Last I heard, Steve Roth was CEO of Vornado.
Anons, I did alot of digging last night on JK's purchase of 666 5th. Many of you are getting it wrong. Jared bought the property in 07, on his birthday. His father was already in jail by then. It was just a few months later the economy collapsed. Leaving JK is a tough spot. He had visions for the new property. Had already commissioned Hada to design it. Sadly, she dies unexpectedly last year of a heart attack. Hmmmm
Anyway, JK has until 2029 to pay off th remaining balance on the loan. Vornado Trust wants out of the deal, They never intended to hold onto it or long.
THe was a deal pending for the propwerty with a Chinese investor but about that time, Potus became President. When news broke about the impending sale with the Chinese investor, he backed out. JK was forced to sell his shares to a Trust because of his relationship with Potus. JK still wants to demolish the building and rebuild it into office space/condo's and a shopping mall. But investor's are not very interested.
What struck me as odd is that multiple articles mentioned that 30% of the office space is unleased. And the impression was it's intentional.